$100 Million in Series D Funding
On January 17, 2017, Zoom, the cloud video conferencing service, announced a $100 million Series D round, entirely funded by Sequoia. The company now boasts a $1 billion valuation, putting it in the vaunted unicorn club. The company, which was cash-flow positive last quarter, had previously raised $45.5 million. It actually wasn’t even looking for funding, according CEO Eric S. Yuan, when Sequoia came knocking. Sequoia had been looking for a company in the video conferencing space when it heard about Zoom from its portfolio clients. Zoom, which has over 400 employees, will likely expand with the massive new investment. He describes himself as “a conservative entrepreneur” and he will bank the money and invest in the parts of the company that require it, as the time is right.
Zoom unifies cloud video conferencing, simple online meetings, group messaging, and a software-defined conference room solution into one easy-to-use platform. Founded in 2011, Zoom’s mission is to develop a people-centric cloud service that transforms the real-time collaboration experience and improves the quality and effectiveness of communications forever.
You can find more information on Zoom’s funding on Techcrunch.com.